DeFi Corp Uses CHAD Stock to Fuel Solana Buying Spree

DeFi Development Corporation (NASDAQ: DFDV) is using its CHAD stock to raise funds and buy more Solana (SOL), potentially creating a new catalyst for SOL's price target of $150. The company has announced plans to issue up to $20 million in 'CHAD Stock', which will pay a 13% yearly dividend in the form of daily payments.

This move comes as institutional buying continues to support Solana, with more than $150 million flowing into SOL ETFs in the last week of August. DFDV owns over 2 million SOL and has stated its intention to continue growing its Solana treasury.

The company's decision to issue CHAD stock could provide a reliable source of demand for SOL, potentially countering the selling pressure from Pump.fun, which has sold over 5 million SOL since its launch. The average holding time for SOL is just 42 seconds, indicating high speculation-driven activity.